Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, March 9, 2018

Article Excerpt

NORDSTROM INC., $49.99, New York symbol JWN, owns and operates 366 stores in the U.S. and Canada. Those locations mainly sell upscale clothing and footwear. This week, a special committee of independent directors rejected a takeover offer from the Nordstrom family, which owns about 31% of the shares. The family, in conjunction with other investors, has offered to buy the remaining 69% of the company for $50.00 a share. In its fiscal 2018 fourth quarter, ended February 3, 2018, the company’s revenue (including credit card fees) increased 8.9%, to $4.70 billion from $4.32 billion a year earlier. Same-store sales gained 2.6%. Nordstrom also saw strong growth at its websites: sales at Nordstorm.com rose 12.4%; and jumped 23.7% at Nordstromrack.com. In all, online sales accounted for 27% of the company’s total sales. Excluding a charge related to the new U.S. tax code and other unusual items, Nordstrom earned $1.20 a share in the quarter. Those recent tax cuts should boost Nordstrom’s future profitability. That likely…